The sequel is likely to be quite messy, though. It's hard to
fathom Terra Firma's strategy, since the traditional p.e. gambit
of cost-cutting, followed by a return to the market, is unlikely
here: EMI has gone through many rounds of cutbacks in the
post-Napster era, and there is very, very limited appetite for a
publicly traded music company these days (check
Warner Music's stock lately?). More likely that the
company gets sliced and
diced: The most valuable asset isn't the business unit that
records and sells music, but EMI's publishing unit, which owns
the underlying rights to a valuable catalog of songs. Either way,
plenty of turmoil ahead.